Plume USD (pUSD)
The RWAfi stablecoin to use to get real-world yield across the Plume ecosystem.
Overview
Plume USD (pUSD) is the premier stablecoin of the Plume ecosystem, designed to support seamless financial operations within Real World Asset Finance (RWAfi). Fully backed and deeply liquid, pUSD plays a critical role in enabling secure payments, efficient trading, and robust collateralization across onchain apps on Plume.
If your organization is used to holding, minting, and deploying USDC or USDT, you will be clear to hold, mint, and deploy pUSD. While pUSD is the canonical stablecoin of the Plume ecosystem, used as the unit of account and collateral across DeFi protocols and applications, it is for all intents and purposes a simple way to reduce onboarding friction during capital deployment.
Composition
Plume USD (pUSD) maintains a 1:1 peg with the US dollar, backed by a reserve of the world’s most trusted stablecoins. This ensures deep liquidity, robust price stability, and unparalleled user confidence.
Plume USD (pUSD) is backed on a 1:1 basis by USDC within a BoringVault on the Plume Chain.
The pUSD BoringVault is managed by Plume.
Minting and redemption incur NO protocol fees.
Stability
There is no algorithmic mechanism controlling supply; stability is achieved through full collateral backing.
pUSD is NOT yield-bearing in its base form. Future staking wrappers are under design but explicitly opt-in and will not impact pUSD.
Risk Management
Collateral Risk: Full reliance on the solvency and liquidity of Circle's USDC. No overcollateralization, immediate 1:1 convertibility.
Oracle & Pricing Risk: Oracles are used for asset monitoring on-chain; integrity mechanisms protect against manipulation.
Liquidity & Redeem Risk: The protocol is designed so that at any time a holder can redeem pUSD for USDC on any supported chaint at a 1:1 peg.
Mint and Redeem pUSD
Minting and redeeming Plume USD (pUSD) is seamless:
Bridge and Mint: Bridge and mint USDC in a single transaction without protocol fees at 1:1 peg from Ethereum to Plume Chain.
Swap Back to USDC: Redeem pUSD on Plume and receive USDC at a 1:1 ratio on Ethereum or Plume Chain at any time.
Mint Plume USD
Go to pUSD Bridge and connect your wallet
Enter your amount and click Mint
Approve the amount and confirm transaction
pUSD is minted in your wallet
Redeem Plume USD
Go to pUSD Bridge and connect your wallet
Switch to Redeem tab
Enter your amount and click Redeem
Create Bridge tx on Plume
Approve amount and submit redemption request on Ethereum
USDC is redeemed in your wallet on Ethereum
Note: Redemptions can take upto 12 hours and may show up as pending
You are now ready to explore the many DeFi use cases powered by Real World Assets on Plume.
Smart Contracts
Plume USD (pUSD) uses BoringVault smart contracts through Nucleus. These are hardened with multiple rounds of audits by leading crypto security firms.
The primary minter contract is TellerWithMultiAssetSupportPredicateProxy (0x6104fe10ca937a086ba7AdbD0910A4733d380cB6). The predicate proxy enforces compliance checks: the front-end initiates an off-chain API call to fetch a compliance message (e.g., wallet OFAC clearance) and passes it to the contract as part of the minting transaction.
Compliance
Legal Structure: pUSD is minted via vault contracts managed by Plume. pUSD simply wraps USDC (previously USDC.e) with transparent, on-chain backing.
Regulatory: pUSD is a non-interest-bearing tokenized wrapper on USDC. No fiat conversion or custody occurs within Plume.
Brand assets
Browse our Media Kit to download the token symbol.
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